Swiss government-owned retail bank PostFinance is prepared to offer Bitcoin trading and storage services to its customers and issue crypto stamp collectibles.
The PostFinance bank has joined with the local cryptocurrency bank Sygnum to provide its clients with a variety of regulated digital asset banking services, the companies said on April 5.
PostFinance users will be able to buy, store, and sell major cryptocurrencies, including Bitcoin and Ether, as a result of this agreement.
The crypto services are facilitated through Sygnum’s institutional business-to-business offering, which grants banks market access to compliant and regulated digital products.
The B2B network is comprised of over 15 partner institutions and supports a “variety of cryptocurrencies” in addition to offering revenue-generating activities such as staking.
Philipp Merkt, the bank’s chief investment officer, stated that PostFinance’s entrance into cryptocurrencies is in reaction to growing demand from its clients.
“Digital assets have become an integral part of the financial world, and our customers want access to this market at PostFinance, their trusted principal bank.”
PostFinance, founded in 1906, is the financial services division of Swiss Post, the national postal service of Switzerland. The publicly traded corporation is recognized for its pro-cryptocurrency position, establishing its crypto custody platform and releasing digital collectibles tied to tangible stamps in 2021.
Shortly before the unveiling of PostFinance’s crypto trading services, Swiss Post announced the launch of Crypto Stamp 3.0, a new crypto stamp iteration with physical and non-fungible token versions including artificial intelligence technology. The new crypto stamp from Swiss Post is slated to go on sale on May 2, 2023.
